2017 New Mexico Statutes
Chapter 59A - Insurance Code
Article 8 - Assets and Liabilities
Section 59A-8-16 - Valuation of purchase money mortgages.
59A-8-16. Valuation of purchase money mortgages.
Purchase money mortgages or deeds of trust on real property referred to in Subsection A of Section 132 [59A-8-15 NMSA 1978] of this article shall be valued in an amount not exceeding acquisition cost of the real property covered thereby or ninety percent of the fair value of the real property, whichever is less.
History: Laws 1984, ch. 127, 133.